ResMed 1Q Profit Jumps 50 Percent On Sales

SAN DIEGO (AP) — Respiratory equipment maker ResMed Inc. said its fiscal first-quarter profit rose 50 percent on higher sales worldwide, along with market share gains.

The company said late Thursday it earned $42.1 million, or 55 cents per share, in the three months ended Sept. 30, up from $28 million, or 36 cents per share, a year ago.

Revenue rose 13 percent to $247 million from $217.9 million.

Analysts polled by Thomson Reuters expected profit of 50 cents per share on revenue of $239.5 million.

The company makes respiratory devices aimed at treating sleeping disorders, including sleep apnea. During the quarter, a mix of product sales and market share gains boosted revenue by 19 percent to $134.7 million in the Americas.

Meanwhile, sales outside of the Americas rose 8 percent to $112.3 million, hampered somewhat by the depreciation of the euro versus the U.S. dollar.